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Hertz Profit Beats Estimates as New Strategy Gains Traction

  • Rental firm focused on improving fleet utilization, CEO says
  • Company is adjusting as corporate travel remains depressed
Updated on

Hertz Global Holdings Inc. posted fourth-quarter profit that beat expectations despite ongoing sluggishness in corporate travel during the Covid-19 pandemic.

The car rental company posted earnings per share of 91 cents, excluding some items, surpassing the average estimate of 76 cents from analysts compiled by Bloomberg. Both sales and Ebitda, a measure of earnings excluding interest, taxes, depreciation and amortization, reached a record high in the period.